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EXHIBIT 11
REXALL SUNDOWN, INC. AND SUBSIDIARIES
NET INCOME PER COMMON SHARE CALCULATION
FISCAL YEAR ENDED AUGUST 31,
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1997 1996 1995
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Net income.............................................. $35,061,596 $20,292,781 $ 4,361,596
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PRIMARY
Weighted average common shares outstanding(1)........... 65,686,910 61,023,150 58,673,020
Common stock equivalents(2)............................. 2,220,804 429,314 321,312
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Primary weighted average common shares outstanding...... 67,907,714 61,452,464 58,994,332
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Primary net income per common share..................... $ 0.52 $ 0.33 $ 0.07
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FULLY DILUTED
Weighted average common shares outstanding(1)........... 65,686,910 61,023,150 58,673,020
Common stock equivalents(2)............................. 2,195,530 539,024 414,528
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Fully diluted weighted average common shares
outstanding........................................... 67,882,440 61,562,174 59,087,548
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Fully diluted net income per common share............... $ 0.52 $ 0.33 $ 0.07
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Above reflects the calculation of pro forma net income per common share
retroactivley adjusted for the two-for-one stock split effected on October 23,
1997.
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(1) Represents weighted average common shares outstanding for the periods
indicated.
(2) Common stock equivalents associated with stock options calculated pursuant
to the treasury stock method taking into consideration the tax benefit
available to the Company upon the assumed exercise of qualified options.
(3) All share data in the financial statements are stated using the primary
earnings per share calculation as the above fully diluted calculation is
anti-dilutive.